WHAT WILL THE EVIDENCE OF HAMILTON BANK'S SRI LANKA GOVERNMENT BOND TRADES SHOW?

If you read my recent article, posing this question: DID HAMILTON RESERVE BANK INTENTIONALLY AND DELIBERATELY MAKE A LARGE INVESTMENT, KNOWING THAT IT WOULD RESULT IN AN INABILITY TO PAY ITS DEPOSITORS ON DEMAND?

https://rijock.blogspot.com/2026/06/did-hamilton-reserve-bank-intentionally.html

then you know what specific issue concerns me. While I am certainly not qualified, not being a bond trader, to pass upon the propriety of the repeated purchases of Sri Lanka Government bonds, the facts are that the credit rating of Sri Lanka had fallen into the non-investment grade, also known as "junk," category in 2021, when the purchases started, and which worsened by 2022, when there was a sovereign default.

As one experienced financial professional explained, even a novice bond trader would have refrained from purchasing these instruments in 2021, as they were highly speculative. No explanation has ben offered to date as to why Hamilton officers chose to make such a high risk investment. Of course, it is up to a court of competent jurisdiction, acting as a trier of fact, to determine, based upon all the evidence available, whether an possible misconduct occurred, and we are hoping that, in at least one of the many pending cases, that findings of fact and conclusions of law answer our questions.

As we continue to review the pleadings in several of the pending proceedings in Nevis, we shall endeavor to shed more light on this troubling scandal. It is also important to note that the government regulator is also a party defendant in some of the litigation filed by depositors who consider themselves victims. Whether it is liable to the plaintiffs is yet another issue to be determined by the courts in Nevis.